Indian IT giant Infosys co-founder Shibulal, family offload 8.5m company shares

Photo: Reuters

Infosys Ltd co-founder S.D. Shibulal and family have sold 8.5 million shares or 0.20% of their paid-up share capital in the company, during 22– 24 July.

“Proceeds from the partial stake monetisation will be utilised for a combination of philanthropic and investment activities,” Shibulal’s family office said in a statement.

The Shibulal Family Philanthropic Initiatives has been involved in various social initiatives especially in the education, social welfare, and sustainable development space since 2005-06.

The sale was executed by Citigroup Global Markets India Pvt. Ltd as the sole broker.

Its founders have served Infosys in various capacities, since its inception in 1981 until October 2014.

Shibulal served as chief executive officer and managing director of Infosys during 2011-14. Prior to that, he was the chief operating officer of Infosys during 2007-11.

This article was first published on livemint.com.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.